Daily Market Report 12/22/16

GOLD

Disappointingly, Gold continues to trade in a tight trading range between $1,128 and $1,134 per ounce. Based on the strength of the U.S. Dollar, and precious metal trading it is likely we will see another test of the recent lows before year end. At 11am PDT today, Gold is trading at $1,129 per ounce, down $4 per ounce on average volume.

SILVER

Silver briefly traded above $16 per ounce this morning, but couldn’t hold the support level. Silver is likely to test the recent low of $15.68 per ounce in the light trading volume during the upcoming holidays. At 11am PDT today, Silver is down $0.13 per ounce, trading at $15.83 on light volume.